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H.R. 2725House111th Congress (2009-2011)In Committee

To amend the Internal Revenue Code of 1986 to provide a 5-year extension for the real property standard deduction and to adjust such deduction for inflation.

Sponsored by Rush HoltRep. Rush Holt (D-NJ)
Introduced June 4, 2009

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HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

June 4, 2009

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HouseIntro Referral

Introduced in House

June 4, 2009

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

June 4, 2009

Floor Debate

1 member

What members said about H.R. 2725 on the floor

1 Democrat
Rush Holt
Rep. Rush HoltD-NJ-12 · Dec 10, 2009

Mr. Speaker, I rise today in support of legislation that will extend tax relief to millions of Americans, the Tax Extenders Act of 2009. This bill will extend 40 tax cuts which are due to expire at…

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Introduced in HouseIssued June 4, 2009

I

111th CONGRESS

1st Session

H. R. 2725

IN THE HOUSE OF REPRESENTATIVES

June 4, 2009

Mr. Holt (for himself, Mr. Himes, Mr. Rodriguez, Mr. Israel, Mr. Adler of New Jersey, and Mr. Massa) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to provide a 5-year extension for the real property standard deduction and to adjust such deduction for inflation.

1.

Modification of real property standard deduction

(a)

Extension

Subparagraph (C) of section 63(c)(1) of the Internal Revenue Code of 1986 is amended by striking in 2008 or 2009 and inserting after December 31, 2007, and before January 1, 2015,.

(b)

Adjustments for inflation

Paragraph (4) of section 63(c) of such Code is amended by striking and at the end of clause (i), by striking the period at the end of clause (ii) and inserting , and, and by inserting after clause (ii) the following:

(iii)

calendar year 2008 in the case of dollar amounts contained in paragraph (7)(B).

.

(c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2009.